Orbsat Corp. (NasdaqCM:OSAT) will look for acquisitions. Orbsat agreed to sell 2,229,950 shares of common stock at price of $3.24 per share, the closing transaction price reported by Nasdaq on December 31, 2021.

The offering represents the initial step in transitioning Orbsat to NextPlat, as approved by shareholders at the Company's shareholder meeting on December 16, 2021. This financial transaction will enhance the Company's balance sheet providing additional cash for working capital needs, potential acquisitions, joint ventures, and ongoing business transition activities.